Creative lender needed – duplex + unencumbered lot upside

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Creative lender needed – duplex + unencumbered lot upside

Chris Walsh
Rental Property Investor · Cleveland · Member since 2025 · 21 posts · 13 votes

Looking for a creative lender to help acquire a duplex for $200,000

– Fully occupied, month-to-month

– Current rents ~$2,400/month

– Light cosmetic rehab

– Duplex ARV ~$270k

Deal includes two separate, buildable lots:

– Each valued ~$50k–$70k

– Goal is to structure purchase so lots are separate or unencumbered

Multiple exits:

– Refi duplex after rehab

– Sell one or both lots to reduce basis

– Develop lots as a second phase

Open to creative structures. Happy to share details via DM.

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  • Reginald TrussPro Member
    Lender · Toledo, OH · Member since 2015 · 1k+ posts · 96 votes
    8mo

    Chris — interesting structure. Duplex basis vs. lot treatment is really the key here.

    I’ve helped investors do this two ways:

    1. carve the lots out clean at closing, or
    2. temporarily encumber everything and release lots post-close once basis is reduced.

    Whether this pencils depends on title, zoning, and how the purchase contract is written — not just LTV.

    Happy to take a quick look and tell you straight if it’s financeable or needs to be re-papered. Shoot me a DM.

    0Reply
  • Matthew BernalBusiness Member
    Investor · Austin, TX · Member since 2021 · 497 posts · 126 votes
    8mo

    Interesting! Just to take a quick clarity, are the two buildable lots currently on separate parcels or part of the same legal description as the duplex? That piece usually dictates how creative we can get on structure.

    I help investors fund similar setups pretty often — duplex + excess land, where the goal is to keep the income property financeable while freeing up the lots. I’ve worked on deals where we:

    • Carved lots out at closing so they stayed unencumbered

    • Used short-term capital to acquire everything

    • Sold a lot post-close to drop basis before permanent financing

    The rents and ARV look workable on paper, especially with light rehab and month-to-month tenants. Happy to look at the details and see what structure makes the most sense.

    [email protected]832-981-3190
    0Reply
    • Chris Walsh
      OP
      Rental Property Investor · Cleveland · Member since 2025 · 21 posts · 13 votes
      8mo
      Quote from @Matthew Bernal:

      Interesting! Just to take a quick clarity, are the two buildable lots currently on separate parcels or part of the same legal description as the duplex? That piece usually dictates how creative we can get on structure.

      I help investors fund similar setups pretty often — duplex + excess land, where the goal is to keep the income property financeable while freeing up the lots. I’ve worked on deals where we:

      • Carved lots out at closing so they stayed unencumbered

      • Used short-term capital to acquire everything

      • Sold a lot post-close to drop basis before permanent financing

      The rents and ARV look workable on paper, especially with light rehab and month-to-month tenants. Happy to look at the details and see what structure makes the most sense.

       Thanks for reaching out. The lots are currently separate parcels.  We know the owner so he will allow us to get as creative as we need to be.  We have to confirm with the city if the zoning will allow building. It’s the same zoning as the duplex but it’s an unusual zoning for the area.  Happy to jump on a call and talk through this.

      0Reply
  • Matthew BernalBusiness Member
    Investor · Austin, TX · Member since 2021 · 497 posts · 126 votes
    8mo

    When is a good time for a call? 

    [email protected]832-981-3190
    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    7mo

    This one will be tough to structure if the two lots are on separate parcels. Are the two lots entitled? 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
    • Chris Walsh
      OP
      Rental Property Investor · Cleveland · Member since 2025 · 21 posts · 13 votes
      7mo
      Quote from @Erik Estrada:

      This one will be tough to structure if the two lots are on separate parcels. Are the two lots entitled? 

      The duplex and the two parcels are all separate. We just received confirmation last Friday that the city will all allow us to build there with a variance. We are going to move forward with the project. We may buy the parcels separately.  Working through the structure now with our buddy who is the owner
      0Reply
    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      7mo
      Quote from @Chris Walsh:
      Quote from @Erik Estrada:

      This one will be tough to structure if the two lots are on separate parcels. Are the two lots entitled? 

      The duplex and the two parcels are all separate. We just received confirmation last Friday that the city will all allow us to build there with a variance. We are going to move forward with the project. We may buy the parcels separately.  Working through the structure now with our buddy who is the owner

      It will be an easier move to purchase the duplex separately and the two lots as well. You should be able to structure a ground up construction loan for the two lots as long as the land is entitled to build 

      [email protected]818-269-7983
      LuxePrivate Investments LLC 572 Reviews
      WebsiteView Page
      0Reply
  • Nicola Mislinski
    Lender · Charleston, SC · Member since 2025 · 35 posts · 4 votes
    7mo

    Have you completed any ground up projects previously?

    0Reply
  • Mayo GilfurtPro Member
    Real Estate Consultant · Connecticut Ct · Member since 2026 · 130 posts · 30 votes
    7mo

    Interesting structure. At this size, most institutional DSCR lenders will be tough, but local banks, credit unions, or a private lender using the duplex cash flow with the lots as additional collateral could make sense. Cleanly separating the lots post-close would be key for the refi or sale exit.

    0Reply
  • Corinna Negron
    Member since 2026 · 129 posts · 21 votes
    7mo

    Private lender here. Creative structures are possible when the numbers and collateral support the risk.

    Send me a private message with the deal details and proposed structure. Happy to review.

    0Reply
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